Ukraine Seeks 500 Million Euros to Rebuild Black Sea Ports Damaged by Russian Attacks

KYIV, May 30 (Reuters) – Ukraine is in urgent need of an initial 500 million euros ($566 million) to reconstruct vital infrastructure facilities at its Black Sea ports that have been decimated by persistent Russian missile and drone assaults, a government minister revealed on Friday.

Over the course of more than three years of conflict, close to 400 port infrastructure facilities have suffered extensive damage due to Russian attacks. The importance of seaports to Ukraine cannot be overstated, as more than 90% of the country’s exports are transported by sea.

Andriy Kashuba, deputy minister of territorial development, disclosed at the Black Sea Security Forum in Odesa that the primary critical infrastructure facilities for ports and shipping that have been lost need immediate restoration.

Currently, Ukraine manages three major seaports in the Odesa region. However, other Black Sea ports had to cease operations following Russia’s full-scale invasion in February 2022.

Kashuba estimated the total cost for rebuilding the ports’ infrastructure at approximately 1 billion euros.

Although this sum is substantial, it pales in comparison to the overall cost projected for Ukraine’s reconstruction and recovery. The World Bank’s December 2024 report indicated a staggering $524 billion (€506 billion) requirement over the next decade, amounting to nearly 2.8 times the country’s estimated nominal GDP for 2024.

Numerous industrial and residential infrastructure facilities across Ukraine have been razed or severely impaired by Russian assaults.

($1 = 0.8828 euros)

(Reporting by Yuliia Dysa, writing by Pavel Polityuk; Editing by Gareth Jones)

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